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Gold/Mining/Energy : Wheaton River Minerals (WRM Toronto)
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To: rdww who wrote (259)10/17/2000 3:07:05 PM
From: I_C_Deadpeople  Read Replies (2) of 350
 
I just spoke to Kerry Knoll (IR at Wheaton ). In the 3rd Q news release he initially had detailed what options they were looking at, he now regrets leaving it out due to the number of calls received. Anyways, they are basically reviewing all reasonable options and these include:

1. Merging to get larger, although they have not found anything suitable.
2. Mothballing all projects after next year and waiting out the gold bear market.
3. Selling the assets and paying out all cash to shareholders.
4. Purchasing other mining properties such as copper mines to diversify.

All in all, he said that no small to medium producer is going to start a mine with gold at $270. So they do not want to waste the money they have on any such project at this time. This is a very reasonable approach in my opinion, look at all options and do what's best for all shareholders.
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